Artikel
Do investors react to corporate governance news? An empirical analysis for the Spanish market
This work adds to the debate on corporate governance regulations and its effects on performance and firm value. The paper empirically tests whether there is a significant price reaction to corporate governance announcements following the publication of the Aldama Code of Best practice (2003) in Spain. In particular, news announcements are classified according to the code principles to distinguish among different dimensions of corporate governance and have a better understanding of investors’ reaction. Results show first, that investors react to this kind of practices, second, that the sign of their reaction depends crucially on the nature and extension of the recommendation and finally that firms that disclose more do not enjoy higher market prices or return on the medium-long term."
- Sprache
-
Englisch
- Erschienen in
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Journal: BRQ Business Research Quarterly ; ISSN: 2340-9436 ; Volume: 19 ; Year: 2016 ; Issue: 1 ; Pages: 13-25 ; Barcelona: Elsevier España
- Klassifikation
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Management
- Thema
-
Corporate governance
Best practice
Codes
Price reaction
Event studies
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Utrero-González, Natalia
Callado Muñoz, Francisco J.
- Ereignis
-
Veröffentlichung
- (wer)
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Elsevier España
- (wo)
-
Barcelona
- (wann)
-
2016
- DOI
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doi:10.1016/j.brq.2015.04.002
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Utrero-González, Natalia
- Callado Muñoz, Francisco J.
- Elsevier España
Entstanden
- 2016
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